AIM ImmunoTech Inc (NYSEAMERICAN:AIM) (FRA:HXB2) said it has completed its At-The-Market (ATM) facility and close the ATM’s Equity Distribution Agreement (EDA).
The company, which focuses on developing therapies to treat multiple types of cancers, immune disorders, and viral diseases, including coronavirus (COVID-19), said it believes, based on its current financial condition, that it has adequate funds to meet its anticipated operational cash needs and fund its current clinical trials over approximately the next 24 months.
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“Our robust financial state should allow us to move forward on many important shots on goal, as we advance towards many of our previously stated important inflection points, without the need for a renewed EDA-based ATM facility”, AIM chief executive Thomas K. Equels said in a statement.
“While we have an outstanding track record of initiating investigator-sponsored clinical trials based on governmental, non-governmental organization (NGO) or industry grants, we now hope to accelerate AIM-sponsored developmental programs in oncology, COVID, ME/CFS and Long COVID, by independently financing activities where situations demand swift action. I believe our clear progress to date in oncology, ME/CFS, COVID and Long COVID signals the shape of things to come in 2021. Our team at AIM will work hard to achieve material forward progress to accomplish our clearly stated objectives”, he added.
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